Credit Card Chips

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Did you ever wonder why so many retailers have chip-readable machines for credit cards, but tell you to swipe your card anyway? This article explains this frustrating issue for retailers. Questions: 1. Merchants have spent incredible amounts of money to get new chip-reading machines, so what is the reason for not using them? 2. Since… Read more »

The Bottom Line

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More than 250,000 of Corinthian Colleges’ victims will be able to get out from under massive and fraudulent student loan debts, Education Secretary John King will announce Friday in Boston. Questions: 1. What is the big asterisk that the article refers to? 2. How many schools and how many states are involved in this scam?… Read more »

A New Concept

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Because of a scramble to locate baby food at night, Robert Ilijason decided to open Sweden’s first unstaffed convenience store. The 39-year old IT specialist now owns a 24-hour convenience store that has no cashier. Questions: 1. How do the customers pay for their purchases? 2. How is the store monitored? What types of controls… Read more »

Investigating Integrity

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A U.S. watchdog agency is preparing to investigate the Federal Reserve and other regulators in order to determine whether they are too lenient on the banks they are meant to police. Questions: 1. What is the strategy to be used in this investigation? 2. Explain the “revolving door” concept that the article mentions. 3. What… Read more »

Meaningless? Exagerating Customer Savings?

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Just as traditional retailers are faltering, so are list prices. This article exposes some of the secrets regarding list prices and online sellers. Questions: 1. Discuss the question in the article and what it means for you personally? “If everyone is getting a deal, is anyone really getting a deal?” 2. Explain the case against… Read more »

I’ll have a Double Irish, Dutch Sandwich to go please

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

In a remarkable tax maneuver, Google moved 10.7 billion euros (or $12 billion) through the Netherlands to Bermuda in 2014. As a result of this structuring, Google will earn most of its foreign income tax-free. Questions: 1. What is this tax strategy called and why? Why Bermuda? 2. Why has corporate tax avoidance risen to… Read more »

End Arbitration?

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As this blog has noted, arbitration clauses have proliferated in all types of contracts over the last few years for transactions related to cellphone service, credit cards, student loans, etc. Now a pivotal case regarding a nursing home death is putting arbitration to the test for its lack of transparency and applicability to elder abuse… Read more »

Lock Down that Debit Card

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Have you ever lost or misplaced your debit card? Now some banks are offering a simple app for your cellphone that will allow you to protect bank accounts quickly while you figures out whether you lost or misplaced your card. Questions: 1. How does Bank of America’s version of the debit card lock work? 2…. Read more »

Chinese Exodus of Capital

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With the Chinese economy tanking, more and more wealthy families are trying to move large sums of money out of the country. As Mr. Bradsher notes in this article, “some methods are perfectly legal, like investing in real estate elsewhere, buying businesses overseas and paying off debts owed in dollars. Others, like Smurfing, are more… Read more »

Beware of the Imposter!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Jeremy Wilson spent 25 years fabricating new aliases, leaving behind a thicket of confusing and falsified records. Along the way, he had more than 27 aliases in five states. Now he is at Rikers Island, awaiting trial. Questions: 1. How did Mr. Wilson use these various identities to commit fraud? 2. What does the article… Read more »